Gold, silver prices decline in New York

Precious metals prices were mixed on Tuesday, with gold and silver both lower even as the US dollar declined once again along with consumer confidence and existing home sales.

December gold on the New York Mercantile Exchange’s Comex division was down $10 per troy ounce early but managed to reduce declines to just 50 cents and was trading at $738.80 per troy ounce at the close of floor trade.

Silver contracts for December were down 2 cents in New York to $13.62 per troy ounce.

October platinum was $5.20 cents higher to $1,349.40 per troy ounce after falling earlier on worries that demand could fall due to the strike at General Motors (NYSE: GM).